Oppenheimer Asset Management Inc. Boosts Stock Position in Cognex Corporation (NASDAQ:CGNX)

Oppenheimer Asset Management Inc. grew its stake in Cognex Corporation (NASDAQ:CGNX - Free Report) by 31.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 275,103 shares of the scientific and technical instruments company's stock after purchasing an additional 66,137 shares during the period. Oppenheimer Asset Management Inc. owned approximately 0.16% of Cognex worth $8,206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in CGNX. SBI Securities Co. Ltd. purchased a new stake in shares of Cognex in the fourth quarter valued at approximately $29,000. Farther Finance Advisors LLC lifted its holdings in Cognex by 439.4% in the first quarter. Farther Finance Advisors LLC now owns 971 shares of the scientific and technical instruments company's stock valued at $29,000 after acquiring an additional 791 shares during the last quarter. SRS Capital Advisors Inc. lifted its holdings in Cognex by 50.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 885 shares of the scientific and technical instruments company's stock valued at $32,000 after acquiring an additional 295 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Cognex by 155.3% in the first quarter. GAMMA Investing LLC now owns 1,062 shares of the scientific and technical instruments company's stock valued at $32,000 after acquiring an additional 646 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC lifted its holdings in Cognex by 129.9% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,007 shares of the scientific and technical instruments company's stock valued at $36,000 after acquiring an additional 569 shares during the last quarter. 88.12% of the stock is currently owned by hedge funds and other institutional investors.

Cognex Stock Up 0.7%

NASDAQ:CGNX opened at $29.83 on Tuesday. The stock's fifty day moving average is $28.91 and its two-hundred day moving average is $32.42. Cognex Corporation has a 52 week low of $22.67 and a 52 week high of $53.13. The stock has a market capitalization of $5.01 billion, a price-to-earnings ratio of 43.87 and a beta of 1.47.

Cognex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend was Thursday, May 15th. Cognex's dividend payout ratio is currently 47.06%.

Analysts Set New Price Targets

A number of research firms recently commented on CGNX. The Goldman Sachs Group upped their price objective on Cognex from $29.00 to $32.00 and gave the company a "sell" rating in a report on Thursday, June 12th. TD Cowen upgraded Cognex from a "hold" rating to a "buy" rating and set a $35.00 price objective on the stock in a report on Monday, April 28th. Truist Financial decreased their price objective on Cognex from $37.00 to $29.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. Cowen upgraded Cognex from a "hold" rating to a "buy" rating in a report on Monday, April 28th. Finally, DA Davidson reiterated a "neutral" rating and issued a $32.00 price objective on shares of Cognex in a report on Monday, June 16th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $39.17.

Cognex Profile

Cognex Corporation provides machine vision products that capture and analyze visual information to automate manufacturing and distribution tasks worldwide. Its machine vision products are used to automate the manufacturing and tracking of discrete items, including mobile phones, electric vehicle batteries, and e-commerce packages by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.

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